QuestionsQuestions (SEC MEMORANDUM CIRCULAR NO. 20, S. 1999)
It implements Executive Order No. 98 by requiring all government agencies and instrumentalities, including SEC-regulated entities (e.g., GOCCs) and LGUs, to incorporate the Taxpayer Identification Number (TIN) in all forms, permits, licenses, clearances, official papers, and documents they issue to persons transacting business with them.
The SEC will not accept any application unless the TIN of the corporation, partnership, incorporators, stockholders, members, partners, directors and officers, or any person acting on behalf of the corporation and partnership is indicated in the specified registration forms/documents.
Examples include: (1) Cover Sheet for Any Application; (2) Registration Data Sheet (for regular processing); (3) Company Data Maintenance Form; (4) Name Relationship Data Maintenance Form; (5) General Formation Sheet; (6) Letter-request for Opinion; (7) Renewal Applications for Secondary License; among others.
Yes. While the Express Lane does not require the Registration Data Sheet (RDS), Section 1 still requires that TIN be indicated in the specific registration documents/form enumerated, which includes the Express Lane Form of Articles of Incorporation and By-Laws.
TIN must be indicated for: the corporation or partnership; incorporators; stockholders; members; partners; directors and officers; and any person acting in behalf of the corporation and partnership.
Under Section 2, the SEC will not release the Certificate/Permit License until the applicant submits the TIN Card or an application for registration of the TIN (BIR Form 1901/1902/1903) stamped by the Bureau of Internal Revenue.
The text references BIR Form 1901, 1902, and 1903, and requires that such forms (or the TIN Card) be stamped by the Bureau of Internal Revenue.
A fine of PHP 1,000.00 is imposed under Section 3. It applies to the corporation, partnership, and/or natural person who committed the prohibited acts.
The use of double or multiple TINs by the same taxpayer.
The use of a TIN other than the one assigned to the taxpayer.
It prohibits the use of spurious TINs—i.e., TINs that are not legitimate or are fake.
It states that the PHP 1,000 fine applies and also mentions “such other sanctions provided in the Internal Revenue Code and other pertinent laws and regulations,” indicating it is not the only basis for penalties.
It takes effect fifteen (15) days after its publication once in any newspaper of general circulation.
Section 1 provides that no application for registration or licensing shall be accepted unless the required TIN information is indicated in the enumerated forms/documents.
Section 1: the SEC will not accept the application in the first place if TIN is not indicated as required. Section 2: even after issuance/processing, certificates/permits with invalid TINs will not be released until proper TIN documentation (TIN Card or stamped BIR forms) is submitted.